March 14, 2024
London, March 14 (QNA) – The International Energy Agency expected global demand for oil to grow by 1.3 million barrels per day during the current year, a decrease of one million barrels per day compared to 2023, but an increase of 110 thousand barrels per day over its expectations for the previous month, especially in the wake of recent developments. In the Red Sea.
The agency said, in its monthly oil report issued today, that growth is returning to its usual levels after the severe fluctuations witnessed during the pandemic years, pointing out that the global economic slowdown is adding to the obstacles to the use of oil, as are improving vehicle efficiency and increasing the number of electric cars.
She stated that indicators of central banks facilitating monetary policies point towards an exit from the economic recession, but weak economic data in China is still a source of concern.
The agency’s growth forecasts are lower than those of its counterparts from the Organization of the Petroleum Exporting Countries (OPEC), which is more optimistic about the economy and expects growth of one million barrels per day.
key words
Economy, global
2024-03-14 17:39:26
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